The tax is being proposed by French Prime Minister Nicolas Sarkozy and would be applied to certain financial transactions like share transactions in Europe.

It is being resisted by British Prime Minister David Cameron who said he will fight it unless it is applied on a global basis.

Mr Kenny was speaking at a news conference following a meeting of the British-Irish council at Dublin Castle which was also attended by British Deputy Prime Minister Nick Clegg.

Earlier Mr Clegg said Ireland and Britain would be equal partners in facing up to the European debt crisis.

Other who attended the summit include Scottish First Minister Alex Salmond, Welsh First Minister Carwyn Jones and Northern Ireland First and Deputy First Ministers Peter Robinson and Martin McGuinness.

Mr Kenny said a global transaction tax would be acceptable, but not one that applied in Dublin but not in London.

Mr Kenny said today's meeting included a "useful exchange" on the economic challenges facing the various countries.

During the post session news conference, the Taoiseach sat in between Alex Salmond and Mr Clegg while Scottish independence was also discussed at the summit.

When questioned on claims by Mr Salmond that London was "bullying" Scotland, Mr Clegg said Scotland now had a chance to vote on it, and Mr Salmond shouldn't be so "jumpy".